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Who is eligible for this service?
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Any individual, Hindu undivided family (HUF), proprietary firm, or a company can open an account with us.
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1) How do I register for Chola DBS Direct E-broking account?
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You need to register yourself through any of our following channels:
1) Send us an SMS to open an account. SMS "TRADE" to 55050 to open an
account.
2) Send us an email at - trade@dbschola.murugappa.com, mentioning your
CONTACT NUMBER, CITY and PREFERRED TIME TO BE CONTACTED.
3) REGISTER online at our Customer Service section on our website www.
CholaDBSDirect.com
4) Visit the nearest Cholamandalam DBS Wealth Management Branches or call us
on our CUSTOMER SERVICE numbers
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2) I have registered, what happens next?
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Our Sales representative will contact you for fulfilling the account opening formalities. Once you fill up Online Account Opening form and other relevant documents, your application will be processed and the required details shall be made known to you. In case if your application is “On Hold” for some reason, our Sales representative shall contact & guide you accordingly.
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3) What are all the documents that I need to provide to become a registered customer?
1.Client Registration Form
2.Client Member Agreement
3.Copy of the PAN Card
4.Proof of Address ( Ration card, Driving License, Passport, Company Introduction Letter etc)
5.
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4) How long it will take to open an account?
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After getting the application to Client registration department, Account shall be activated within 4 working days provided all the necessary documents are provided.
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5) How do I know my application has been accepted or not?
As soon as your application is accepted, we will inform you by e-mail. Post acceptance, we shall keep you updated on your Demat & Trading Account number. Once your account is activated, we shall dispatch a “Welcome Kit” on your communication address.
In case you do not hear from us within 7 working days post submission of all the documentation, please do send us a mail at customercare@dbschola.murugappa.com .
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6) How do I get my User ID and Password for the first time?
Once your account gets activated, we shall dispatch you the “Welcome Kit” containing “Welcome Letter” and Demo Booklet. Welcome Letter shall include details on your Demat Account number & User ID. For safety reasons, we would dispatch your password separately in a sealed envelope.
You shall receive the banking related documentation directly from the bank, in case you have chosen to open an account with any of our preferred banking partners.
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Post Registration Queries
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1) If I already have an Offline / Demat account with Cholamandalam Securities Limited, can I use these accounts for online investing?
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Yes, you just need to mention the existing Demat account details and we shall link up your existing accounts with CholaDBS Direct E-broking account for online investing. You can link up only one Demat account. However, you would then cease to be an offline customer.
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2) What type of Bank Account can I use with my E-broking account?
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You can use your normal savings account with ICICI Bank / IDBI Bank / HDFC Bank /AXIS Bank for funding your E-broking account. You can specify the account number(s) in the Account Opening form and the same shall be linked to your Ebroking account. In case you do not have a savings bank account with any of our Preferred Banking Partners, you need to open one for funding your Ebroking account.
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3) Do I require Net Banking facility?
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Yes, for transferring funds Online from your savings account to our pool account, you would require Net Banking facility. System shall verify your Net Banking User Id & Password before transferring funds to our pool account. In case if you do not have a Net Banking facility, you need to apply for the same at your local bank branch.
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4) What happens when I give the cheque for online Trading Margin?
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Yes, we accept the cheques from your registered account with us .After realization , the margin will be enhanced.
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Accessing Bank Account And Setting Limits
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1) I have money in my bank account but if I place an order to buy it is not accepted?
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Please check your Buying Power. Even if you have money in your Bank account it has to be transferred by you for trading. The amount of money required before placing a buy order or a Intra-day sell order would depend on the value of the order and whether the order is placed in the 'Delivery Segment' or the 'Intra-day Segment'. In case of a Delivery Order, 100% of the order value is required while for an Intra-day Order, only a specified % of the order value is required (currently 20%).
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2) What happens when I transfer the amount for online investing?
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When you transfer any amount from your Bank account, it gets debited in your bank account and correspondingly your Buying Power increases. In fact if you have not used this money while trading, you can always withdraw the same. Whenever you withdraw the money your Buying Power also reduces proportionately.
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3) I have not transferred any money from my Bank Account but still my Trading Limit is positive?
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If you sell some shares in the cash segment, generally you can use the money to make purchases on the same day. This results in your Buying Power going up.
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New CholaDBS Direct Ebroking Customers
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1) On Account activation, how do I put my first trade?
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Please go through our Online Demo or the demo booklet that came with the welcome kit. Alternatively, please call our Customer Care and ask for guidance.
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2) What is Call & Trade?
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Call & Trade is a service offered by Chola Securities Ltd for its customers, which provides customers with a facility to trade over the phone, especially if the internet is down at the client end or a computer is inaccessible.
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3) What is the contact number on which call has to be made?
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Currently, Cholamandalam Securities provides you a TOLL FREE number – 1800 425 4455 to call. Alternatively, you can call at a BSNL number: 044-25307261.
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4) Is Call & Trade a secured option?
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Once you call our number, our Call & Trade dealer will ask a few questions to verify your identity. Only after your identity is verified, you would be able to place/ modify/ cancel orders.
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5) Can the rates be confirmed using Call & Trade?
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Yes. You can use Call & Trade for getting live rates prevailing in the market.
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6) Can one trade in all scrips?
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You need to view the “STOCK LIST” depending on the segment you wish to trade / invest in.
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7) Can I place more than one order per call?
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Yes. Currently, there is no limit on the number of orders that can be placed per call.
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8) Can I inquire regarding registration / limits / position etc to a Call & Trade dealer?
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No. For any inquiry, you need to call up our Customer Care center. Please keep a note of the latest numbers for Customer Care on our website.
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9) Can the orders placed through Call & Trade be confirmed from Customer Care?
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No. Status of orders placed using Call & Trade facility can only be confirmed through a Call & Trade Dealer only.
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10) What kind of orders can I place?
You can place all acceptable and allowed types of orders viz . Market, Stop Loss and Limit orders.
Limit Order is an order in which you specify the maximum price per unit in case of a Buy order and the minimum price per unit in case of a Sell order. The actual transaction can be at a price more favourable than the price specified.
Market orders can be placed only during market hours (i.e. when the Exchange is open for trading)
Market Orders have different interpretations for both NSE and BSE.
Market Orders in NSE: This is an order to buy or sell securities at the best price available in the market at the time it is matched by the exchange. Therefore, chances of its getting executed are higher. In case of market orders for NSE, all market orders placed, which are not executed, become limit orders at the last traded price. Where a market order is not executed fully, it becomes a limit order for the balance quantity at the last traded price.
Market Orders in BSE: In case of market orders placed on BSE, all buy market orders go to the Exchange with the best offer price and all sell market orders go to the exchange with the best bid price. In case at that point of time it is found that a particular bid or offer is no longer present in the exchange this market order gets cancelled suo moto by the exchange. In case of part execution of market order, the balance order gets converted into a limit order at the last executed price.
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11) What is a Stop Loss order ?
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A Stop loss order allows the client to place an order which gets activated only when the market price of the relevant security reaches or crosses a threshold price specified by the investor in the form of 'Stop Loss Trigger Price'. When a stop loss trigger price (SLTP) is specified in a limit order, the order becomes one which is conditional on the market price of the stock crossing the specified SLTP. The order remains passive (i.e. not eligible for execution) till the condition is satisfied. Once the last traded price of the stock reaches or surpasses the SLTP, the order becomes activated (i.e. eligible for execution by being taken up in the matching process of the exchange) and then on behaves like a normal limit order. It is used as a tool to limit the maximum loss on a position.
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12) What is a Disclose Quantity (DQ) order?
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Normally, the order quantity is disclosed in full to the market. An order with a Disclosed Quantity (DQ) condition/attribute allows the Trading Member to disclose only a part of the order quantity to the market. For example, an order of 1000 with a disclosed quantity condition of 200 will mean that 200 is displayed to the market at a time. After this is traded, another 200 is automatically released and so on till the full order is executed. DQ (Disclosed Quantity) should not be less that 10% of the Order Quantity and at the same time should not be greater than or equal to the Order Quantity.
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13) Can I check online status of all orders and trades placed by me?
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Yes, the status of any order is updated on real-time basis in the Order Book. As soon as you place your order, system validates and sends it to the exchange for execution. The entire process is system driven and there are no manual interventions.
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14) Can I modify and cancel my order into the system?
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Yes, you can modify or cancel any order any time during the market hours by accessing the Order Book page and clicking on the 'Modify' hyperlink against the order, which you wish to modify or cancel.
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15) Can I punch orders after the trading hours? What happens to such orders?
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Yes, you can enter only AMO LIMIT orders after trading hours. Orders placed after trading hours are stored in the system and are sent to the exchange whenever the exchange opens for trading.
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16) At what times can I place a request for withdrawal of money from my broking account?
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Currently, all withdrawal requests for a current day would be taken upto 6 p.m. Please do check important messages area in the trading zone for an update.
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17) How is the profit and loss recognized on CholaDBS on of square off orders?
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CholaDBS Direct on price of cover order is compared against the weighted average price at which the position was built up (as shown in the "Net Position" table) and profit/loss is calculated therefrom.
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18)What is meant by 'Convert to Delivery’? Can I choose not to square off an Intra-day position?
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Intra-day positions are meant to be squared off. However, if you want, you can choose to receive or give delivery of shares against your positions. The expression of this intention is 'Converting to Delivery'. For example, if you have a Intra-day position of 'Buy 100 ACC Shares', instead of squaring off this position by selling 100 ACC shares in the same settlement, you can choose to receive delivery against the same. You can convert even a part of the total quantity of 100.
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19) How do I convert my Intra-day position into delivery (cash segment) and delivery segment into intraday?
You need to go to "Trade log" click on hyper link “Exchange Trade No” after clicking “Product Conversion Window” will display. Here, in “Product “, you need to change from Margin to Delivery. To convert the desired quantity to delivery, provided you have adequate funds/stock to convert the buy/sell position respectively.
Yes. The position in Intra-day can be converted to delivery and vice versa.
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20) Do I need a separate Demat account or can I use my existing one?
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No. You can use your existing demat account for online trading.
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21) How do I transfer money in and out of the account?
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An option called MONEY TRANSFER is provided in CholaDBS Direct that you can use to do a fund Transfer and Fund Withdrawal.
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22) How long does it take for a transfer – in of money/stocks?
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It will take few seconds to transfer your money into the trading account. Please do make sure you read the instructions on the screen carefully while doing the transfer.
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23) Can I use my existing bank account for the transfers?
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You can utilize any of the bank accounts mentioned above to transact with Chola DBS DIRECT.
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24) How often would I get updates on my holdings, accounts and profits/losses made?
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The day’s transactions can be viewed in ‘DETAILED MARGIN REPORT’ or in the TRADE BOOK. You can also view the profit/losses in the same option which is available in your trading version itself.
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25) Would they be a warning if I am falling short of any margin requirement?
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Yes. A warning would be generated by the system and our personnel may also be in touch with you in this regard.
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26) Do I need to transfer money before buying of shares?
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Yes, you need to transfer money from your Bank account to our pool account before placing any order. Alternatively if you have sold some shares, the sale proceeds can be used to buy the shares you want.
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27) Can I do short selling?
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Yes, you can do “Intra-day” short selling. However, such sell positions need to be squared off before the specified time before the end of the settlement. You cannot go short in the ‘Delivery Segment'. Here, you can sell only those shares which are there in your demat account.
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28) Is it compulsory to square off the position within the same day?
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Yes. It is compulsory to square off all margin positions only within the same day.
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29) Can I convert my Intra-day position to Delivery instead of squaring up the position before the time limit expires?
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Yes, You can do so at any time before the stipulated time limit.
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30) What happens if I do not square off my position before the stipulated time limit?
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In such a case, our risk monitoring system shall have the option to place an auto square off order to close out your open position at a time specified on the website. This time may change depending on market conditions.
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31) What Research features can I avail of while trading / investing on CholaDBS Direct.com?
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You can count on our valuable research to help you pursue your financial goals. You will get fundamental, technical, strategies reports from industry leaders on various stocks & mutual funds. Please refer to the Research Section at www.choladbsdirect.com for more information.
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32) Where can I contact if I have a query regarding my chola trading account?
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33) Whom can I call/ contact if I have a trade online login/ password resetting issues?
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You can contact the customer service section (or) you will post your online request (or) you can write a mail to customercare@dbschola.murugappa.com.
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34) How I change my password:
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You can change your password anytime by accessing our Preferences Section on the website. As per the “New Password Policy”, you will have to compulsorily change your password every 14 days. The password shall automatically expire after 14 days. After the 14th day whenever you login to the site, you will be prompted to change the password.
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35) How long will it take to modify details of my trading account (Such as change in address, name, bank account details, etc?)
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The communication confirming the change in details of your trading account is sent in 24 hours of receiving the request at your end.
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36) What is the procedure to close my trading account?
If you wish to close your account you can send the communication to Customer Care.
1. All outstanding receipts/ Payments are cleared
2. A letter informing closure of account will be sent within 3 working days
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37) Will Cholamandalam Securities helps to dematerialize / rematerialize my shares?
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Yes, Cholamandalam Securities will help you to dematerialize/rematerialize your shares.
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38) Will Cholamandalam Securities handle all my problems arising with the exchange?
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Yes Cholamandalam Securities will take care of any issues that arise with the exchanges on its customers. All you have to do is call our client service or email us at customercare@dbschola.murugappa.com.
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39) Whom Should I call if I need information at your end?
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You can call on any of our staff at your local branch or you can contact our customer care regarding any services offered.
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40) What would be the brokerage applicable?
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You need to select a brokerage plan that suits your investing style. You can get information about brokerage plans from our marketing executives and Managers or from the Welcome > Brokerage Options window on our website.
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41) Do I need a separate watch list to view NSE/BSE scrip rates?
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No, you can view the NSE and BSE scrip rates in the same watch list.
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42) Can I mark the delivery orders and sell?
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Yes. You can mark the delivery and sell the orders.
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43) Can I buy stock in NSE and sell the same in BSE on a same day or vice versa?
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No. You need to take delivery of the stock bought on NSE and then sell the same in BSE and vice versa. That is, you cannot buy in NSE and square off the same in BSE on the same day.
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44) What are the exposures offered for Equity trading segment?
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Currently, we offer a 1 time exposure on the delivery segment and a 5 times exposure for the Margin product.
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45) What are the exposures offered for Derivative trading segment?
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You need to maintain Span + Exposure margin for taking positions in the derivatives segment. Daily obligation/MTM needs to be paid in cash only.
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46) What are the options available on the site over and above stock and derivatives trading?
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IPO integration - Customer will be able to apply directly for IPOs from our trading portal. For this the customer has to apply separately, the option for which has been provided in the account opening form.
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47) Does CholaDBS Direct offer commodities trading?
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No. Currently the company does not allow commodity trading on its site.
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48) I tried logging in to Swift Trade but a message in the status bar shows “Loading Java Applet failed”
Please download and install MS JVM from the Trade Login window on the website (Top Right Menu). If this still doesn’t solve your problem; do the following:
In Internet Explorer, please go to Tools>Internet Options>Advanced; scroll down; uncheck “Java (Sun)>Use JRE version for applet” if any;
Check Microsoft VM > a) Java Console Enabled (requires restart), b) Java logging enabled, c) JIT compiler for virtual machine enabled (requires restart)
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